Residency-based disclosure requirement expanded to extend Tax Recovery Officer jurisdiction and reporting for residents with foreign assets. Amendment shifts the overseas information requisition and reporting trigger from ownership of foreign property to the taxpayer's residency, substituting language to require correspondence from a resident and limiting Tax Recovery Officer action to officers having jurisdiction over the resident; it also replaces the property-based test with a residency test and broadens forwarding to the Board where the person is a resident of, or has property in, the foreign country.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Residency-based disclosure requirement expanded to extend Tax Recovery Officer jurisdiction and reporting for residents with foreign assets.
Amendment shifts the overseas information requisition and reporting trigger from ownership of foreign property to the taxpayer's residency, substituting language to require correspondence from a resident and limiting Tax Recovery Officer action to officers having jurisdiction over the resident; it also replaces the property-based test with a residency test and broadens forwarding to the Board where the person is a resident of, or has property in, the foreign country.
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